Delhi-NCR has emerged as India’s fastest-growing major residential market by price, with average housing prices in the primary market rising 12% year-on-year during the July-September quarter of 2026, according to data from real estate consultancy Anarock.
The increase was the highest recorded among India’s top seven residential markets, ahead of the 7% average annual price increase recorded across these cities collectively.
Average Prices Near ₹10,000 Per Sq Ft
According to the report, the average residential property price in Delhi-NCR increased from approximately ₹8,900 per sq ft in Q3 2025 to ₹9,980 per sq ft in Q3 2026.
Across India’s seven major residential markets, average prices increased from ₹9,105 per sq ft to ₹9,714 per sq ft during the same period.
The seven markets covered by Anarock are Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Chennai, Hyderabad and Kolkata.
What Is Driving Delhi-NCR’s Price Growth?
A combination of higher land prices, rising construction costs and developers’ increasing focus on premium and luxury housing is contributing to the sharp appreciation.
Anarock Vice Chairman Santhosh Kumar noted that residential prices across major Indian cities have risen significantly since the pandemic, partly because of higher input costs, including land and construction materials.
Within Delhi-NCR, land prices in key development markets such as Noida, Greater Noida and Gurugram have increased considerably, which is also influencing the pricing of new residential projects.
At the same time, developers are increasingly launching premium, luxury and ultra-luxury projects, pushing the average ticket size and per-square-foot prices higher.
Infrastructure and Connectivity Support Demand
Delhi-NCR’s residential market continues to benefit from expanding infrastructure, improved connectivity and employment-driven housing demand.
These factors are particularly important in well-connected micro-markets, where buyers are willing to pay a premium for access to business districts, transportation infrastructure and established social amenities.
Despite a marginal moderation in sales, the 12% annual appreciation indicates continued pricing strength across the NCR residential market, according to industry executives cited in the report.
Premium Housing Reshapes the NCR Market
The numbers also point towards a broader transformation taking place across Delhi-NCR.
Rather than growth being driven predominantly by affordable or mid-income housing, an increasing share of development activity is moving towards larger and more premium residential projects.
For the wider building ecosystem, this trend can have implications beyond property values. Continued premium and high-rise development can support demand across construction, building services, elevators, escalators, smart-building technologies, façade systems and other infrastructure solutions.
With average primary-market housing prices now approaching ₹10,000 per sq ft, Delhi-NCR is strengthening its position as one of India’s most significant premium residential development markets.
Source: The Times of India
Disclaimer: This article is based on publicly available news reports and market data. ISEE Papers has independently rewritten and presented the information for industry news and informational purposes.